Should I file if I have no income or property?

If you don't anticipate having a steady income or some property that a creditor could take, bankruptcy is probably not necessary. If you don’t have a full-time job or own a home, your creditors probably won't sue you. Why? Because it's unlikely they could collect the judgment from you. Instead, they’ll write off your debt and treat it as a business loss for their income tax purposes. In a few years, your debt will become legally uncollectible anyway.